Trump to Pull Thousands of Troops From Germany
President Trump announced plans to significantly reduce U.S. military forces in Germany, with the Pentagon initially proposing a 5,000-troop withdrawal before Trump said he would go "a lot further." The announcement came amid escalating tensions with German Chancellor Friedrich Merz over the U.S.-Israeli war on Iran and blindsided NATO allies. The U.S. currently stations more than 36,000 troops in Germany, with European leaders acknowledging at a summit that the continent must now take greater responsibility for its own security. Germany has committed 100 billion euros to military modernization.
Ukrainian drone hits Moscow high-rise in rare city strike
A Ukrainian drone struck a residential tower on Mosfilmovskaya Street in an upscale Moscow district approximately 6-8 kilometers from the Kremlin, with Mayor Sergei Sobyanin confirming air defenses repelled two drones while one hit the building. No casualties were reported. The strike occurred days before Russia's scaled-back May 9 Victory Day parade, for which the Kremlin proposed a ceasefire communicated only to the US administration. Moscow has deployed unprecedented security measures including hundreds of air defense systems.
Cerebras returns to IPO with $40bn valuation goal
Cerebras Systems begins its IPO roadshow on Monday, seeking to raise $3.5 billion and targeting a valuation of roughly $40 billion. The Sunnyvale-based AI chipmaker plans to sell 28 million shares priced between $115 and $125 each on the Nasdaq under the ticker "CBRS," with Morgan Stanley, Citigroup, Barclays and UBS as lead underwriters. The company previously withdrew its IPO filing last October. Revenue jumped to $510 million in the year ended December 31, up from $290.3 million, while the chipmaker posted profit of $1.38 per share versus a loss of $9.90 per share a year earlier.
Trump Launches Operation to Free Ships Held in Strait of Hormuz
Trump announced a "Project Freedom" humanitarian operation Monday to escort trapped ships through the Strait of Hormuz, mobilizing over 100 aircraft and 15,000 military personnel. Iran threatened to attack any foreign vessel, including U.S. ships, attempting to enter the strategic waterway, calling the mission a direct violation of the ceasefire. France refused to join while Britain coordinates a separate 30-country naval task force. Oil prices rose sharply as markets monitored the standoff.
Europeans bow to US basing demands for Iran war, Spain holds out
NATO Secretary General Mark Rutte said Monday that European allies are now fulfilling basing and logistical requests for the Iran war, with Spain the sole exception refusing to allow its territory to be used. The US also announced plans to withdraw 5,000 troops from Germany, prompting EU foreign policy chief Kaja Kallas to say Europe must strengthen its role within NATO. A Pentagon email outlined options for punishing non-compliant allies, including suspending Spain from the alliance and reviewing America's position on Britain's Falkland Islands claim.
Iran strikes UAE oil zone in first breach of ceasefire
UAE authorities confirmed an Iranian drone struck the Fujairah Oil Industries Zone, sparking a fire that civil defense teams are working to contain. The Ministry of Defense said four cruise missiles were launched from Iran, with three intercepted over UAE territorial waters and the fourth falling into the sea. No casualties or confirmed damage were immediately reported. The strike marks the first attack since the US-Iran ceasefire took effect in early April. The ceasefire was extended without a deadline after direct talks in Islamabad failed to produce a lasting agreement.
More
- Russia declares ceasefire; Ukraine sets rival dates. Russia announced a two-day ceasefire for Victory Day commemorations, but Ukraine responded with its own truce for different dates, with President Zelensky calling it "not serious" to observe a Russian military holiday ceasefire.
- BJP Wins West Bengal in Historic First. Early counting trends show Modi's party projected to form a government in the eastern state for the first time, while also notching victories in three Kerala constituencies held by Congress and CPI(M).
- Amazon opens logistics network to all businesses. Amazon Supply Chain Services lets any company tap its global freight, warehousing and delivery network, positioning the e-commerce giant as a rival to DHL, UPS and established third-party logistics firms in a market worth over $1.3 trillion.
- Supreme Court restores mifepristone access through May 11. Justice Alito's administrative stay blocks a 5th Circuit ruling that would have restricted mail-order and remote prescriptions for the drug, which accounts for more than half of U.S. abortions.
- Ancient Scottish crannog built on timber platform, study reveals. Researchers have found that the artificial island in Loch Bhorgastail, dating to around 3500 BC, was constructed on a wooden platform beneath the stone surface.